MSB and Banks to Halt Instant Transfers Over 500M VND from May 1, 2026

Overview

MSB (Maritime Bank) has announced that from May 1, 2026, it will stop processing instant transfers over 500 million VND, joining Eximbank, VPBank, and TPBank in complying with a new State Bank of Vietnam (SBV) regulation. The rule, effective November 2025, caps instant payment orders via the SBV’s electronic clearing system at 500 million VND, forcing banks to route larger transactions through standard processing channels with delays of at least four hours.

Key Facts

• MSB will halt instant 24/7 transfers for amounts over 500 million VND from May 1, 2026.
• Eximbank (EIB) will stop the feature from April 21, 2026, and will not auto-split transactions for fast processing via Napas.
• VPBank (VPB) and TPBank (TPB) issued similar notices earlier in April 2026.
• The SBV regulation (amended circular on intermediary payment services) took effect in November 2025.
• Standard processing for large transfers will take at least 4 working hours; transactions after 15:55 will be settled the next business day.
• Previously, many banks automatically split large transfers into smaller amounts (e.g., 450 million VND) to enable instant processing via Napas.
• Some banks previously charged around 10,000 VND per split, but most later waived the fee.

What Happened

MSB issued a notice stating that from May 1, 2026, any transfer exceeding 500 million VND will be automatically routed to standard processing instead of the instant 24/7 channel. The bank cited compliance with SBV regulations and system safety as reasons. Eximbank had already announced a similar change effective April 21, 2026, and confirmed that its online applications will not auto-split transactions for fast processing through Napas. VPBank and TPBank also released comparable notices earlier in April.

The SBV’s amended circular, effective November 2025, stipulates that the maximum value of a single payment order via the electronic clearing system is 500 million VND. If a payment order exceeds this limit, the bank’s system must switch to standard processing, which takes at least four hours. If initiated outside business hours, the transaction will be completed on the next working day.

Market Context

MSB closed at 13,000 VND on April 15, 2026, down 0.39% with volume of 12.4 million shares on HOSE. VPB closed flat at 27,000 VND, EIB fell 1.09% to 23,000 VND, and TPB was flat at 16,000 VND. The banking sector has been under pressure from regulatory changes, including tighter rules on instant payments. The new regulation may reduce the convenience of digital banking for high-value transactions, potentially affecting customer satisfaction and transaction volumes for these banks.

Strategic Significance

The SBV’s cap on instant payment orders aims to enhance system security and reduce risks associated with large-value instant transfers. For banks, this means a shift away from the auto-splitting feature that previously allowed seamless large transfers. While the regulation applies uniformly, banks that can offer alternative solutions (e.g., multiple smaller transfers or enhanced standard processing) may retain customer loyalty. The change could also slow the adoption of digital payments for high-value corporate or real estate transactions, which often rely on instant settlement.

What to Watch

• Customer adoption of alternative methods, such as splitting transfers manually into amounts under 500 million VND.
• Potential fee adjustments for standard processing or new premium instant services for large transfers.
• SBV guidance on whether further easing or tightening of the cap is expected.
• Impact on transaction volumes and fee income for MSB, EIB, VPB, and TPB in Q2 2026 earnings.
• Competitor responses: whether other banks announce similar changes or introduce new features to mitigate delays.